Pension stuff, how's it all looking ? HAve you prepared ?

[Horse]

I hope your memory is long enough to recall our recent bout of inflation, vaulting prices and fund plans ceasing to yield any gains.

So yes, the world can turn upside down pretty quickly.

The Oct 2022 financial shenanigans certainly adversely affected my pension planning. The three small individual savings pots all took 25-35% reductions. Luckily, I have a reasonable (but not great) final salary scheme, so can afford to wait.

[Skub]

Just had to fork out a ween o' grand to get the full state pension. If my (dodgy) maffs is correct,I need to live another 3 years or so to see the benefit. Probably should have paid up ages ago.

[Count Steer]

I cringe inside whenever I hear someone talk about their 'forever home'.

I cringe outside. (My new neighbours said it when they moved in. They've got primary school aged kids It's a nice enough gaff with woodlands etc but to consider, at that age, 'Oh, I think I'll die here' is just bizarre.).

I dunno, I think it's cool that someone is so in love with the house they've just bought that they feel like they'll live there forever.

It's probably a massive cringe but we feel like we've lived in this house forever, which would be scary because it's hundreds of years old

I just think a house is a bit like a good pair of shoes, you have to live with them a while before they 'fit' properly. To move in and declare it's the 'forever home' on day 2 seems a bit premature. (The neighbours have been finding out the hard way that the previous owners used some dodgy/cheap roofing bods, so might be reconsidering. Fortunately her father is a builder. ).

[Horse]

I cringe inside whenever I hear someone talk about their 'forever home'.

I cringe outside. (My new neighbours said it when they moved in. They've got primary school aged kids It's a nice enough gaff with woodlands etc but to consider, at that age, 'Oh, I think I'll die here' is just bizarre.).

I dunno, I think it's cool that someone is so in love with the house they've just bought that they feel like they'll live there forever.

It's probably a massive cringe but we feel like we've lived in this house forever, which would be scary because it's hundreds of years old

We've been here since 1998 and have spent a lot of thought, time and money getting it how we want it.

We could have gone into bigger mortgage and maintenance costs etc but kept it manageable.

And, because it's how we like it (and we like the town) We've decided (twice, 10 years ago and a year ago) to stay here rather than 'move to the coast' or whatever.

Soon after we moved in and modernised the place, a neighbour said to me "Seeing what you have done, I've realised that I'll probably live here for the rest of my life." Sadly, he was right, a brain tumour took him far too early.

We could fit a stairlift, walk-in shower, ramps etc. but, if it comes to that I'm happy to move. If I need care on a substantial basis, I'll go in a home.

It's only bricks, mortar, wood and tiles. I don't need a particular building for me to be happy and comfortable.

I know a couple who had (for the wife, at least) a near life-long dream to live in Cornwall. They bought their forever home in 2021. They won't be there in 2025.

[mangocrazy]

I just think a house is a bit like a good pair of shoes, you have to live with them a while before they 'fit' properly.

Absolutely agree with this. You have to live in a house for a while before you become used to its good points and it bad points (and there will always be some). Then you have to live there a bit longer before you figure out what needs doing to the house to tailor it to your needs/wants.

People who buy a house, gut it and decorate it before moving in will invariably find themselves re-working substantial parts of the place later on.

Wasn't it the German Bauhaus movement that stated a house should be a machine to live in; i.e. a house should be an efficient tool to help provide for the necessities and requirements of life?

[the_priest]

This year I will have chucked around £10k into the bigger pension fund, it is creeping over the 200k value mark now, we want to get it over 300k before retiring as that will give us a better chance of living comfortably. Still keeping savings so that we can do stuff and help our children.

[Count Steer]

I just think a house is a bit like a good pair of shoes, you have to live with them a while before they 'fit' properly.

Wasn't it the German Bauhaus movement that stated a house should be a machine to live in; i.e. a house should be an efficient tool to help provide for the necessities and requirements of life?

T'was Le Corbusier.

[mangocrazy]

Indeed it was...

[asmethurst99]

I disagree entirely about a house needing to grow on you, if you don't instantly fall in love with it whilst you're viewing it, then you're in the wrong house.
It's absolutely true that the right house immediately makes itself known to you and sings out the moment you walk into it.

Although if you're not a practical sort (i.e. an IT nerd ) and unable to see past the furnishings and decorating of the previous occupants then you might struggle to be able to view it in your minds eye.

But the feeling is definitely there, if it isn't then you've bought the wrong house.

We’ve just moved - spent a longtime looking and I love our new place - I know it will present some problems but it’s a 1870 terrace so that comes with the territory.
I’ll need to keep working anyway to keep the young master whilst he goes through university.
Not needing a car as we live near the Elizabeth line helps.

[Yorick]

This villa will see us out. It's perfect.
The basement apartment brings in good rent.
The whole top floor is our bedroom suite. Amazing.
And 2 bedrooms and bathroom on ground floor for pals and family to visit.
When the steps get to much for us, we'll move down and sleep on the middle floor. Then can waddle out to the pool patio in me jimjams

If we ever need permanent care, we'll get a live-in carer upstairs.

[Count Steer]

I disagree entirely about a house needing to grow on you, if you don't instantly fall in love with it whilst you're viewing it, then you're in the wrong house.
It's absolutely true that the right house immediately makes itself known to you and sings out the moment you walk into it.

Although if you're not a practical sort (i.e. an IT nerd ) and unable to see past the furnishings and decorating of the previous occupants then you might struggle to be able to view it in your minds eye.

But the feeling is definitely there, if it isn't then you've bought the wrong house.

I don't think it's anything to do with furnishings/decoration really. That's easy to see past. Half is finding out if it actually 'works' for you when living in it (rather than you imagine living in it on viewing), half is, finding out in practice if it's in the right place?

Different strokes/folks though.

[Horse]

I just think a house is a bit like a good pair of shoes, you have to live with them a while before they 'fit' properly.

Absolutely agree with this. You have to live in a house for a while before you become used to its good points and it bad points (and there will always be some). Then you have to live there a bit longer before you figure out what needs doing to the house to tailor it to your needs/wants.

People who buy a house, gut it and decorate it before moving in will invariably find themselves re-working substantial parts of the place later on.

Before we built the extension here, I mentally lived in it. Down the way my brain works, I planned just about everything.

The only thing I'd move is the switch for an outside light.

[mangocrazy]

I disagree entirely about a house needing to grow on you, if you don't instantly fall in love with it whilst you're viewing it, then you're in the wrong house.
It's absolutely true that the right house immediately makes itself known to you and sings out the moment you walk into it.

Although if you're not a practical sort (i.e. an IT nerd ) and unable to see past the furnishings and decorating of the previous occupants then you might struggle to be able to view it in your minds eye.

But the feeling is definitely there, if it isn't then you've bought the wrong house.

I don't think it's anything to do with furnishings/decoration really. That's easy to see past. Half is finding out if it actually 'works' for you when living in it (rather than you imagine living in it on viewing), half is, finding out in practice if it's in the right place?

Different strokes/folks though.

Yeah, you can be in love with a house and know it's the one you want, but the fine detail of living in it will gradually reveal the best way to modify and work with it. It's a bit like a physical relationship - the initial spark is thrilling, but you still have to make it work through the years (and hopefully decades).

[Yorick]

Another thing to take into consideration is inheritance.
It's sort of taboo, but when we were making plans 10 years ago, we included what was coming to us.

[Horse]

Another thing to take into consideration is inheritance.
It's sort of taboo, but when we were making plans 10 years ago, we included what was coming to us.

Yes-ish. We were able to achieve some of what we have sooner. Bluntly, if FiL hadn't died when he did, his money would have been used for care home fees.

[Cousin Jack]

I know a couple who had (for the wife, at least) a near life-long dream to live in Cornwall. They bought their forever home in 2021. They won't be there in 2025.

It's not all pasties and Doom Bar, there are no bloody shops, half the restaurants are shut in winter, and you will get 3 months of mizzle.

[Pirahna]

Another thing to take into consideration is inheritance.
It's sort of taboo, but when we were making plans 10 years ago, we included what was coming to us.

Unless the person goes into a care home and you'll get fuck all. Or how about "you'll inherit everything when I die Yorick", only to find they've left it to Battersea Dogs Home.

[Mr. Dazzle]

Bluntly, if FiL hadn't died when he did, his money would have been used for care home fees.

My parents have actually talked to me about this.

Thing is - if they carked it today, I think my brother and I would both stand to inherit ~£500k, maybe a bit more. If my Dad lives as long as his parents did he's still got another 3 decades in him, by why time I don't expect my inheritance to be worth much at all. Not to mention the fact I will be nearly 70 myself then too!

So bluntly, it's not a factor I'm considering. I'll get what I get and that'll be whatever it is.

[Horse]

Bluntly, if FiL hadn't died when he did, his money would have been used for care home fees.

If my Dad lives as long as his parents did he's still got another 3 decades in him, by why time I don't expect my inheritance to be worth much at all. Not to mention the fact I will be nearly 70 myself then too!

My father died aged 91, mother is still alive aged 96!

[Mr. Dazzle]

Or how about "you'll inherit everything when I die Yorick", only to find they've left it to Battersea Dogs Home.

Mrs. D was alive for quite a long time (as in, into adulthood) before her parents updated their wills in exactly this regard

It wasn't a slight against her, they just never got around to it